This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities remain positive with the German DAX and Wall St outperforming a flat UK UK 100 . The latter is in spite of GBP off its highs, as USD finds support to inspire profit taking in the commodity space, coupled with mixed inflation prints, a plethora of corporate results and an absence of risk appetite favouring defensives. The DAX benefits from EUR weakness amid fresh German coalition talk uncertainty. Wall St retains a bullish bias, set to open higher after a long weekend.
The UK UK Index is being held back by BP (bigger Deepwater Horizon bill), Miners (stronger USD, base metals lower, HSBC downgrades), RDSB (oil off highs) and Banks (Carillion fallout, potential bad loans; US peer results risk) overshadowing the positivity from HSBC/BARC (rebound), BATS (weaker GBP), VOD (defensive) and AB Foods (broker upgrade). Germany’s DAX outperforms thanks to the weaker EUR giving a boost to exporters, notably Autos and Industrials.
The UK Index 100 holds above recent 7763 lows. The DAX 30 is making an upside test of 13350. Dow Jones Futures look set to reopen above 26000, extending the rally. Gold’s pullback has found support at $1332 prior highs.
Click below to expand sections for more detailed analysis
The UK Index 100 holds above recent 7763 lows, continuing to test the January trendline of rising lows support.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
The DAX 30 is making an upside test of 13350. Breakout?
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures look set to reopen above 26000, extending the rally
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold’s pullback has found support at $1332 prior highs.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research